Answer:
Part of the model: thinking can be taught, thinking is an active transaction between the individual and the data, the process of thought evolves by a sequence that is lawful.
C. John Jacob Astor.
The American business that had a monopoly on the fur trade in the far west was founded by John Jacob Astor.
The business was called American Fur Company. Since it was founded, the company grew to monopolize the fur trade in the United States by 1830. It became one of the largest and wealthiest businesses in the United States.
Answer:
A) Accounts receivable turnovers are 10.0 and 6.6 and the ratios of uncollectible accounts receivable to gross accounts receivable are 0.30 and 0.16, respectively. Examine allowance for possible understatement of the allowance.
Explanation:
accounts receivable turnover from the previous year = total sales previous year / average gross receivables previous year = $1,000,000 / $100,000 = 10
accounts receivable turnover from the current year = total sales current year / average gross receivables current year = $2,000,000 / $300,000 = 6.67
ratios of uncollectible accounts receivable to gross accounts receivable for previous year = $30,000 / $100,000 = 0.3
ratios of uncollectible accounts receivable to gross accounts receivable for current year = $50,000 / $300,000 = 0.167
Option A shows the correct amounts for the accounts receivable turnover and ratios of uncollectible accounts receivable to gross accounts receivable. Since the ratio of uncollectible accounts receivable decreased so much during the current year, the allowance for accounts receivables for the current should be double checked to see if it wasn't understated.
Answer and Explanation:
a. The computation of the material price variance is shown below:
= Actual Quantity × (Standard Price - Actual Price)
= 725,000 × ($2.95- $3)
= 725,000 × $0.5
= $36,250 unfavorable
b. The computation of the material quantity variance is shown below:
= Standard Price × (Standard Quantity - Actual Quantity)
= $2.95 × (730,000 - 725,000)
= $2.95 × 5,000
= $14,750 favorable
And, the total direct material cost variance is
= Material price variance + material cost variance
= $36,250 unfavorable + 14,750 favorable
= $21,500 unfavorable
